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2022 (5) TMI 1023 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditors - existence of debt and dispute or not - HELD THAT:- The Corporate Debtor has no substance in its pleas raised in the reply affidavit. The Corporate Debtor has clearly admitted its liability, the account was declared as an NPA because the Corporate Debtor failed and defaulted in repayment of its financial debt. The petition is otherwise complete in all respects - the petition under section 7 of the Code filed by the Financial Creditor deserves to be admitted - moratorium declared.
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